Citi released a research report stating that Johnson Electric Holdings' (00179) financial results for the third quarter of fiscal year 2026 fell slightly short of expectations. Due to recent increases in copper costs, the bank lowered its profit forecasts for fiscal years 2026 to 2028 by approximately 5%, reducing the target price from HK$33 to HK$32 while maintaining a "Neutral" rating, and expects the company's stock price to face short-term pressure due to the weaker-than-expected performance. The bank believes the company's valuation remains elevated due to its involvement in the AI liquid cooling pump and humanoid robot supply chain industries, anticipating that this business will contribute only 1% and 3% to the company's sales in fiscal 2026 and 2027, respectively, and 2% and 6% to gross profit, indicating a still minor contribution for fiscal 2027.